10 Oct 2019

Keynote speaker, Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and Education, cited areas of opportunities for business valuation services, at the IVAS-IVSC Business Valuation Conference, 10 to 11 October 2019

 

Singapore, 10 October 2019 - Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance and Education, cited three areas of opportunities for business valuation services and expertise, at today’s IVAS-IVSC Business Valuation Conference.

 

Opportunities for Business Valuation

2.      The three areas are financing for infrastructure, intellectual property valuation and mergers and acquisitions:

 

a. Financing for Infrastructure

As Asia is seeing rising demand for infrastructure financing, the demand for business valuation expertise will grow as infrastructure investment increases.

 

b. Intellectual Property Valuation

As new economy assets such as brand, data, technology and software become increasingly important sources of value for companies, companies will need business valuers to value intangible assets and intellectual property.

 

c. Mergers and Acquisitions

With rising Merger and Acquisition activities in the Asia-Pacific, business valuation expertise will be needed to evaluate the value of the acquisitions.

 

3.        The Committee for the Future Economy’s Working Group for Legal and Accounting Services cited business valuation as one of nine practice areas with strong growth potential in their recommendations released in April 2017.

 

Growing pool of Business Valuation expertise

4.        The community of Chartered Valuer and Appraiser (CVA) Charter holders has been growing steadily in the Asia-Pacific region. Currently, there are 200 CVA Charter holders from various jurisdictions, such as Singapore, Australia, China, India, Indonesia, Korea, Malaysia, Thailand and Vietnam. The CVA Charter holders work as business valuers in professional services firms, investment analysts in research houses, corporate financiers, investment bankers, and investment professionals in private equity and venture capital funds.

 

5.         There is also rising interest in the CVA programme which is run by the Institute of Valuers and Appraisers, Singapore (IVAS). IVAS is an Institute set up by the Singapore Accountancy Commission (SAC) to develop Singapore into a centre of excellence for business valuation. FY 2018/19 saw a 62% increase in enrolments over FY 2017/18.

 

Growing demand for Business Valuation services

6.          IVAS supports regulators by providing business valuation expertise. Since January 2018, it has collaborated with the Accounting and Corporate Regulatory Authority (ACRA) by offering its advice on complex valuation and impairment issues. In January 2019, IVAS entered into an MoU with the Singapore Exchange Regulation (SGX RegCo) to offer its expert advice and support on whether valuation reports are in compliance with codes and standards, and to work with SGX RegCo to set standards relating to valuation and disclosures in the SGX Listing Rules.

 

7.          The two-day IVAS-IVSC Business Valuation Conference was held in conjunction with the IVSC 2019 Annual Meeting in Singapore from 7 - 9 October 2019. The Conference featured 29 speakers and panelists, and attracted over 400 participants from Singapore and 20 countries: Brazil, Canada, Finland, France, India, Indonesia, Lithuania, Malaysia, Nigeria, Portugal, Philippines, Romania, Russia, Saudi Arabia, Sri Lanka, Thailand, Uganda, the United Kingdom, the United States and Vietnam.

 

For more information, please contact:

Ms Leow Weihui

Manager, Corporate Communications

Singapore Accountancy Commission

DID: (65) 6325 0514

Email: leow_weihui@sac.gov.sg

 

About Singapore Accountancy Commission

The Singapore Accountancy Commission (SAC) spearheads the development of the Singapore accountancy sector with the vision of developing Singapore into a leading global accountancy hub. SAC is working to achieve this by deepening the skills of the accountancy talent pool; developing the industry to capture growth opportunities; and creating a hub and exchange by building Singapore into a centre for thought leadership. SAC is a statutory body under the Ministry of Finance. For more information, please visit www.sac.gov.sg

 

About Institute of Valuers and Appraisers, Singapore (IVAS)

Established under the umbrella of the Singapore Accountancy Commission, the Institute of Valuers and Appraisers, Singapore (IVAS) seeks to foster professional excellence in the areas of business valuation, and develop Singapore into a Centre of Excellence for business valuation through:

  • Development of competency frameworks;
  • Promotion of professional valuation standards;
  • Setting of ethical and professional standards of practice;
  • Contributions in thought leadership, research and development;
  • Provision of quality education and training curriculum; and
  • Promotion of professional qualification and certification in business valuation

Through these initiatives, IVAS will seek to broaden the talent pool, deepen the expertise of business valuation professionals, uphold the public trust in the role they perform and enhance the reputation of the business valuation profession in the region. For more information, please visit www.sac.gov.sg

 

About the Chartered Valuer and Appraiser (CVA) Programme

The CVA programme was launched by IVAS in 2016 to raise the standards of ethics and professionalism in business valuation. It is Asia’s first professional business valuation programme benchmarked against international standards advocated by the International Valuation Standards Council (IVSC). The 18-month programme, conducted by the Nanyang Business School, receives wide industry endorsement from industry partners including regulators, professional bodies and global accounting firms. Upon completion of the CVA programme and with the accumulation of relevant experience, candidates are conferred the CVA Charter.

 

About International Valuation Standards Council (IVSC)

The International Valuation Standards Council (IVSC) is an independent, not-for-profit organisation that produces and implements universally accepted standards for the valuation of assets across the world in the public interest. The IVSC consists of representatives from a wide range of sectors, including professional valuation institutes, valuation providers, standard setters, regulators of valuation services and academia. The organisation’s mission is to establish and maintain effective, high-quality international valuation and professional standards, and to contribute to the development of the global valuation profession, thereby serving the global public interest. For more information, please visit https://www.ivsc.org/

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